Gap earnings flat in second quarter

Gap Inc. reported flat earnings in the second quarter on lower revenue as the iconic casual-clothing retailer struggled with a weak economy and cautious consumers at its Gap, Old Navy and Banana Republic stores.

In the three months ending Aug. 1, the San Francisco-based company reported it earned $228 million, or 33 cents a share, compared to $229 million, or 32 cents a share, in the year-ago quarter. Per-share earnings topped analyst estimates of 32 cents a share by a penny, according to data compiled by Zacks.com.